State raises €850m more of free money to finance huge economic cost of Covid-19 lockdowns

Conor O’Kelly, CEO of the National Treasury Management Agency (NTMA), 

The Government continues to raise millions from investors at little or no cost to the State, boosting hopes the huge additional debt entailed in the jump in unemployment amid the new Covid-19 lockdown can be financed through next year. 

The National Treasury Management, the NTMA, said it completed its debt-sales programme for the year by tapping €850m from a bond that matures in 10 years, at a negative interest rate or yield of 0.20%.